Southern Company (The) (SO) Position Lowered by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its holdings in Southern Company (The) (NYSE:SO) by 6.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,878 shares of the utilities provider’s stock after selling 4,089 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Southern were worth $3,089,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Southern by 2,961.9% during the first quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock valued at $3,089,736,000 after buying an additional 60,040,696 shares in the last quarter. Janus Henderson Group PLC raised its stake in Southern by 3,580.1% during the second quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock valued at $223,766,000 after buying an additional 4,546,503 shares in the last quarter. Capital Research Global Investors raised its stake in Southern by 25.3% during the second quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after buying an additional 3,015,226 shares in the last quarter. Vanguard Group Inc. raised its stake in Southern by 4.1% during the first quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock valued at $3,422,780,000 after buying an additional 2,688,854 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Southern by 3.6% during the second quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after buying an additional 770,413 shares in the last quarter. Institutional investors and hedge funds own 53.78% of the company’s stock.

In related news, insider Ann P. Daiss sold 5,080 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $53.28, for a total value of $270,662.40. Following the completion of the transaction, the insider now directly owns 7,474 shares of the company’s stock, valued at approximately $398,214.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William P. Bowers sold 85,151 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total value of $4,257,550.00. The disclosure for this sale can be found here. Insiders sold a total of 213,813 shares of company stock valued at $11,029,988 over the last three months. Corporate insiders own 0.74% of the company’s stock.

Several brokerages have issued reports on SO. Zacks Investment Research upgraded Southern from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Bank of America restated an “underperform” rating and set a $51.00 price objective on shares of Southern in a research note on Tuesday, October 24th. SunTrust Banks restated a “hold” rating and set a $52.00 price objective on shares of Southern in a research note on Friday, October 20th. Mizuho restated a “buy” rating and set a $55.00 price objective on shares of Southern in a research note on Friday, December 8th. Finally, Jefferies Group restated a “buy” rating and set a $56.00 price objective (up previously from $55.00) on shares of Southern in a research note on Tuesday, September 12th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $49.92.

Southern Company (SO) traded down $0.49 during trading hours on Wednesday, hitting $51.19. The stock had a trading volume of 4,031,800 shares, compared to its average volume of 4,683,985. The company has a market capitalization of $51,867.50, a price-to-earnings ratio of 18.79, a PEG ratio of 3.89 and a beta of 0.13. Southern Company has a 52 week low of $46.71 and a 52 week high of $53.51. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57.

Southern (NYSE:SO) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The company had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.16 billion. Southern had a return on equity of 10.81% and a net margin of 2.59%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 earnings per share. sell-side analysts forecast that Southern Company will post 2.95 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 6th. Investors of record on Monday, November 20th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Friday, November 17th. Southern’s dividend payout ratio (DPR) is 414.29%.

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About Southern

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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